Unhedged

There have been very few mergers and acquisitions in the past four years, but many dealmakers say that’s about to change. At least that’s according to reporting by James Fontanella-Khan, our guest on the show today. Fontanella-Khan is the FT’s US deals reporter, and he speaks with Rob Armstrong about the shape of deals to come, and how anti-trust policy might look over the next four years. Also, they go long vintage clothing and long the prospects of a merger between Giorgia Meloni and Elon Musk.  For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.You can email Robert Armstrong and Katie Martin at unhedged@ft.com.Read a transcript of this episode on FT.com

Ukraine, Syria, Moldova, France, Israel, South Korea, the US…. Power is being challenged and redistributed around the world. But how are markets reacting, which changes truly matter to the global multinational corporations that power the markets, and why are markets so bad at predicting these upheavals? Today on the show, Katie Martin and Aiden Reiter take stock of the rearrangements. Also they go long scarves and crappy Santas. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.You can email Robert Armstrong and Katie Martin at unhedged@ft.com.Read a transcript of this episode on FT.com

Among his many promises, president-elect Donald Trump is promising to drive down the price of energy in the US. But how realistic a plan is that? What levers does he have to pull? Today on the show, Rob Armstrong and Aiden Reiter talk about how oil is priced and what moves that price. Also they go long parliamentary democracy and short brunch. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.You can email Robert Armstrong and Katie Martin at unhedged@ft.com.Read a transcript of this episode on FT.com

Ruchir Sharma, an investor and frequent contributor to the FT, came out and said it the other day: The US stock market is in a bubble. But is it a bubble or just the rational behavior of investors who believe the US really is exceptional? Today on the show, Katie Martin and Rob Armstrong discuss the outlandishly good performance of the US market, and ask how long it can last. Also they go long Elon Musk’s pay package and short the transatlantic bug.For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedofferYou can email Robert Armstrong and Katie Martin at unhedged@ft.com.Read a transcript of this episode on FT.com

How would you like a 265,528,900 per cent return on your investment? Would you be interested in that? If so, join us as Rob Armstrong and FT Alphaville’s Robin Wigglesworth discuss the results of Professor Hendrik Bessembinder’s massive number-crunching project, which ranks the best stocks of the past century. The number one performer is pretty incendiary. Also we short break dancing and go triple reverse long on single-stock ETFs. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedofferYou can email Robert Armstrong and Katie Martin at unhedged@ft.com.Read a transcript of this episode on FT.com

President-elect Donald Trump has just announced “Day 1” tariffs on Mexico and Canada, in addition to previously promised tariffs on China. Tariffs will definitely affect domestic prices, but how much, and will they truly cause catastrophic inflation? Today on the show, guest host Josh Oliver discusses the tariffs with the FT’s economics commentator Chris Giles. Also, they short the new Treasury secretary and the 900-year-old Smithfield meat market in the City of London. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedofferYou can email Robert Armstrong at robert.armstrong@ft.com and Katie Martin at katie.martin@ft.com. Read a transcript of this episode on FT.com

It is the season for giving and banks are giving us a lot of year-ahead reports. Katie, Robert and Aiden actually read these things, and today on the show they discuss what they’ve learned. It all raises questions about very narrow corporate spreads, an AI bubble and what happens if things go right in the jobs market, or wrong in the Middle East. Also we go long hair products, short turkey and limit long Josh Kushner’s big bet against diversification. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedofferYou can email Robert Armstrong at robert.armstrong@ft.com and Katie Martin at katie.martin@ft.com. Read a transcript of this episode on FT.com

Opinions are cheap so we’re making it up in volume, with three takes on the future of the economy. Today on the show, the entire staff of the Unhedged newsletter – Rob Armstrong and Aiden Reiter – gather to discuss looming inflation, the next 25 years of returns from the stock market and the challenges facing the so-called ‘department of government efficiency’. Also we go long Disney and long Turkey, the country.For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedofferYou can email Robert Armstrong at robert.armstrong@ft.com and Katie Martin at katie.martin@ft.com. Read a transcript of this episode on FT.com

Angry eruptions in elections around the world are changing leaders. And many of those leaders are coming in with radical offers to the voters. But can anger change an economic outcome for the better? And will it? Today on the show, Katie Martin hosts a live forum at the Kilkenomics Festival in Kilkenny, Ireland and discusses the topic with Leah Downey, a political theorist, and Eric Lonergan, a money manager. Also, we go long turkeys and short orange politicians. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedofferYou can email Robert Armstrong at robert.armstrong@ft.com and Katie Martin at katie.martin@ft.com. Read a transcript of this episode on FT.com